The Company. Security of Funds

Company

Country

Regulation

Zola Ltd.

Bulgaria

N/A

Founded in 2016, BinaryOnline claims to operate in over 100 countries and to have more than 200 000 registered users. According to the information on the broker’s website, the brand is owned and operated by Zola Ltd. – a company based in Bulgaria, which does not hold a brokerage license. Although operating without proper authorization is not uncommon in the binary options industry, we advise traders to choose their brokerage very carefully. There are many scams out there, targeting mostly unexperienced traders, and most of them are not regulated.

That is why you’d better choose a broker regulated in Cyprus, for example, where CySEC exercises certain supervision and control and where your money is protected by the Investor compensation fund up to $20 000 in case something goes wrong.

The minimum initial deposit for clients of BinaryOnline is $250, which is a bit high for an unregulated broker. In comparison, in order to open an account with CySEC-regulated NenX, traders have to invest just EUR 10.

Min. bet size

The minimum bet size with this broker is $5 for 60 seconds and $25 for classic options, which is average for the industry. Of course, there are brokerages offering lower minimum bet sizes - with NenX one can place a trade with just EUR 1. Such low minimum bet sizes allow for better risk management.

Payout amount

BinaryOnline’s payout amount for standard binary options is up to 81% on EUR/USD, while returns for 60 second options are up to 70%. Returns up to 81% are on the lower end of average. In comparison, NenX offers high payouts, reaching 92%.

Trading Platform

BinaryOnline’s web trading platform has a standard interface and is easy to use. Mobile application is also available.

Apart from the standard trading options (such as Call/Put, Long term, 60 seconds, Ladder, One Touch, Pairs), there is Tradereplica option. This is a social trading feature, where successful traders are rated, and where other users can follow them and copy their trades.

In addition, BinaryOnline’s platform also has additional features to help traders make informed decisions. These include Trader choice, which allows you to get a glimpse of the direction trades have been placed by other traders, and Trendify, which enables users to effortlessly make use of the RSI, Moving Average and Boiling Bands.

On-Deposit Bonus

Welcome bonus with this broker is up to 75% of the initial deposit, however, it is available to clients of BinaryOnline who deposit at least $10 000. Takeoff account holders get a welcome bonus of just 25% of their initial investment.

Methods of Payment

There are several payment methods available to BinaryOnline’ clients: wire transfer, and credit/debit card payments. The minimum withdrawal amount is $100.

Conclusion

BinaryOnline is a young binary options broker with rrather extensive product portfolio and nice website. However, it is not recommended, because it is not authorized to provide brokerage services. Besides, the payout amounts it offers are not the highest in the industry, while the einitial deposit it requires is not small. To sum up the above:

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage - one of the highest in the industry.

Exness is a leading forex broker, offering MT4 and MT5 platforms. Traders can take advantage from a true ECN environment and trade on ultra tight spreads, starting from 0 pips.

HYCM is global forex broker with more than 40 years of operational experience, regulated by FCA in the UK. Trade Forex with spreads as low as 0.2 pip

Binary online is the biggest. Scam.I invested a lot of money through a broker who advised me to rather invest with algo trader because trading manually,because I was losing money.

They then registered me an account.

The profit was then going well.And then the broker I was working there suddenly was gone. They then transferred a new broker. At first we had a problem language barrier. But yet I was asked to put more money in. I refused.when I asked for a with withdrawal they froze my account immediately and even the support team I couldn't get an answer.yet every week algo trader still sends me updates every week.I did not get anywhere responders from anyone.

The people working at Banc de Binary are the biggest scamster in binary options. I have learnt the hard way and lost all my savings. The best option is to learn and educate yourself. There is no easy way to make money, I was shocked when binaryoptionassetrecovery ,. Comm got my money back, to me it was a gamble that not everyone is this lucky.

I did sign up, traded twice guided by BinaryOnline and passed my concerns onto the support, the consequence - my access to the web portal and account has been suspended. The only way to get the money back – I cancelled my credit card and re-called the transaction. So - no financial loss but a warning for you,
KNOW WHAT You ARE DOING!

I think I have been scam for US3000 as they are now not acknowledging my request to withdraw my account. Before I deposit the money in, I would get phone calls at least 3 to 4 times a day and with a very hustle way to get to my credit card. After the deposit is done there are issues that the website was down, the manager was away on sick leaves, promise to call but never get to call me anymore. The chat customer services only become a pacifier to the irate client. But no follow up on their side. The customer success manager has been passing my case to three different people to handle yet all three has the same tone of voice and accent.

What can I do or we do to stop this or report this scam so no more people can be conned by this people. How?

Most certainly a scam, used the names of Richard Branson and Elon Musk in a Facebook link to attract investors, I got caught unfortunately, after registering the link to their Android app would not accept my password, they have now since removed this off playstore, I was struggling to trade and they called me asking me for my user password, this got me suspicious and requested a refund and now they are not responding, prior to this their calls asking me to invest more money were nothing short of harassment

Please add in this the clause, that if you deposit money and then realise, "not this is not legit (or for me...)

"The second clause of the Section 12 reads as follows:-Clients must imperatively place at least 5 transactions on the platform following their first deposit. Failure to do so will void any withdrawal requests"

or Jones
Support Agent
Good
Hector Jones
Hello. How may I help you?

Michael Wagner
10:02 am
HI Hector as per my mail. I have done the 5 trades now I want my my money back. I assume I am sure correctly that the trades that I lost were part of the matched bonus that binary online gave me when I signed up
10:03 am
please advise where the withdrawal form is
Hector Jones
For a convenient assistance, kindly provide us with your BinaryOnline account number or your registered first and last name, found on the top right hand-side of your account.

Michael Wagner
xxxxxx
You rated our customer service as bad.

Hector Jones
We will locate your account and get back to you in a moment.

Meanwhile, it is so unfortunate that you are wishing to withdraw as the Financial Market is really favorable at this point of time.

Other traders are as such collaborating actively with their Customer Success Managers and we would wish for you to walk on the sam path.

However, be advised that your Customer Success Manager will still be assisting you if you retain your decision.

Michael Wagner
yeah right! Read your emails. I have requested a call 5 times!
Just get me the form please
And again I expect the full $250 back as I was supposed to get $250 as a trading bonus
Hector Jones
Alright Michael. You will have to place a withdrawal request in your account then.

Michael Wagner
I have put in the request for the $250
i doesn't seem to be doing anything
oh yes now its saying I don't have 250!
what happened to my trading bonus. "Mr Wagner if you sign up with me right now we will also match your initial deposit"
Hector Jones
Yes sure, Micheal but it is only when your account is full that you will be able to start trading.

Michael Wagner
that makes no sense! It was full, I was trading! Did my five trades. Again what happened to my trading bonus??
Hector Jones
Actually, your Customer Success Manager is the one who assists customers on any bonus they might have been promised.

As such, once the latter gets in touch with you, you shall be assisted accordignly?

Michael Wagner
Oh you mean the one that I have 5 times to call me to no avail?? Is this some sort of joke?

"Hi Whitney

I have written 3 emails with times and each time you have not phoned. Then at 10 am would be another option. Other than that perhaps it's just better we leave it and I get my money back

Kind Regards

Michael"
Hector Jones
We are only requesting for a best time from your side so that we can have you assisted.

Michael Wagner
You know what what the hell. I will post this email conversation on the net and you can keep your $16.5

Hector Jones
We believe that if you have an issue with BinaryOnline, it is better to resolve such internally.

Michael Wagner
Well then, make sure I get my full $250 back

Hector Jones
The latter has tried to contact you earlier but at times you were busy and sometimes you were unreachable.

Michael Wagner
Oh you mean when she first phoned on Christmas day, during lunch! Anyone I put in the withdrawal request. I have lost the $17 and been led of a wild goose chase. Thanks

Read
Hector Jones
Meanwhile, your Customer Success Manager might have also been busy arranging for the webinars or following some big events due to which she could not follow up on an appointment.

About BinaryOnline it was told you that they give you a bonus to use to trade with and that now you need to get a turnover of 60x the amount of the bonus paid.

That's the actual conditions for the bonus BinaryOnline is offering:

"For each granted bonus credit, transaction(s) with a total value greater than or, at least, equal to Thirty (30) times the bonus earning are required. Any value below these terms will, under no circumstance, be redeemable and will be returned to BinaryOnline."

To be honest - you didn't read the terms and conditions first. And this is mostly the problem - using the bonus but doesn't know what is the consequence. It is your own mistake that you didn't inform yourself first. Learn from your mistake and never do it again.

BinaryOnline is an unregulated broker. There have been a lot of complaints of traders about this broker. So the use of BinaryOnline as your broker should be avoided.

Never chose unregulated brokers. That's the only consequence you need to understand. In case of defrauding there will be no regulation authority that is able to help you.

Stay safe my friends. Always trade with an amount you are prepared to lose.
Educate yourself first, read the terms and conditions of trade.

I learn with sadness from your review that BinaryOnline is not regulated. I joined them in December of 2016 through a link with the MACH 2 Robot. I made a first deposit of $250 and I started trading with the Mach 2 Robot. They called me and advised me to trade with a broker as the robot was not reliable. I agreed because the robot had won only 50% of the trades and my balance was now about $200. They offered me a bonus of $250 and advised me to place trade the broker recommended. I placed the trades and the balance grew to about $600. I was then assigned a new Expert Trader as they call their brokers. This ET made me borrow $400 because he said $1 000 was the right amount for him to work with me. He promised me that I would be able to repay the $400 within a month. I deposited the $400 but then I lost some of the money trading according to his recommendations. He then gave me another bonus of $400. By month-end he told me I could not withdraw the $400 but should continue trading. I kept on losing and then I started trading by myself. The ET left BinaryOnline and then I continued trading by myself and winning some trades. When the balance was now $902 two months after I had borrowed the $400 I made a withdrawal of $400. They now say I cannot make the withdrawal and that I need to make a turnover of 60 x $650 before I can make a withdrawal.

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